ODDITY Tech (NASDAQ:ODD) Shares Gap Down – What’s Next?

ODDITY Tech Ltd. (NASDAQ:ODD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $13.11, but opened at $12.57. ODDITY Tech shares last traded at $12.2490, with a volume of 119,356 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ODD. KeyCorp reaffirmed a “sector weight” rating on shares of ODDITY Tech in a research note on Wednesday, June 3rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $10.25 price target on shares of ODDITY Tech in a research note on Tuesday, June 2nd. Barclays reduced their price objective on ODDITY Tech from $13.00 to $8.00 and set an “underweight” rating on the stock in a report on Wednesday, June 3rd. Zacks Research upgraded ODDITY Tech from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Truist Financial lowered their price target on shares of ODDITY Tech from $18.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, June 3rd. Nine research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ODDITY Tech has an average rating of “Reduce” and an average price target of $25.39.

ODDITY Tech Trading Down 8.4%

The stock has a 50-day moving average of $14.53 and a 200 day moving average of $16.44. The company has a quick ratio of 2.86, a current ratio of 4.06 and a debt-to-equity ratio of 1.96. The stock has a market cap of $691.54 million, a PE ratio of 15.25 and a beta of 2.38.

ODDITY Tech (NASDAQ:ODD) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). The business had revenue of $197.94 million for the quarter, compared to analysts’ expectations of $187.87 million. ODDITY Tech had a return on equity of 15.38% and a net margin of 6.97%.The business’s quarterly revenue was down 26.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 earnings per share. As a group, sell-side analysts anticipate that ODDITY Tech Ltd. will post -0.55 earnings per share for the current year.

Insider Buying and Selling

In other ODDITY Tech news, CFO Mann Lindsay Drucker sold 11,473 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $15.10, for a total value of $173,242.30. Following the sale, the chief financial officer directly owned 104,492 shares of the company’s stock, valued at approximately $1,577,829.20. This represents a 9.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 130,678 shares of company stock valued at $1,956,201 over the last 90 days.

Hedge Funds Weigh In On ODDITY Tech

Several institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley raised its position in ODDITY Tech by 13.9% during the fourth quarter. Morgan Stanley now owns 4,305,565 shares of the company’s stock valued at $172,998,000 after acquiring an additional 525,481 shares in the last quarter. Janus Henderson Group PLC boosted its position in ODDITY Tech by 115.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,423,917 shares of the company’s stock worth $97,379,000 after purchasing an additional 1,296,551 shares in the last quarter. Granahan Investment Management LLC boosted its position in ODDITY Tech by 1.1% in the 4th quarter. Granahan Investment Management LLC now owns 1,523,204 shares of the company’s stock worth $61,202,000 after purchasing an additional 16,747 shares in the last quarter. Ashford Capital Management Inc. grew its stake in shares of ODDITY Tech by 25.0% during the 4th quarter. Ashford Capital Management Inc. now owns 685,972 shares of the company’s stock worth $27,562,000 after purchasing an additional 137,380 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd grew its stake in shares of ODDITY Tech by 110.6% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 590,300 shares of the company’s stock worth $23,718,000 after purchasing an additional 310,000 shares during the period. Institutional investors and hedge funds own 35.88% of the company’s stock.

ODDITY Tech Company Profile

Oddity Tech Ltd. operates as a consumer tech company that builds digital-first brands for the beauty and wellness industries in the United States and internationally. It serves consumers worldwide through its AI-driven online platform, which uses data science, machine learning, and computer vision capabilities to identify consumer needs, and develop solutions in the form of beauty and wellness products. The company sells beauty, hair, and skin products under the IL MAKIAGE and SpoiledChild brands.